Real Estate agents all across the country have seen a definite increase in business in the last several months leading up to today’s deadline to have qualified buyers under contract to purchase a home. Real estate offices report that the activity level is reminiscent of the boom years of the early to mid part of this decade.

As long as a binding contract is signed by April 30th, home buyers have until June 30th to complete the purchase. The home buyer tax credit is forecasted to generate 900,000 – 1 million home sales for first time home buyers and another 1.5 million sales for repeat buyers before it expires on June 30th. The previous credit which expired in late 2009 is thought to have added 2 million first time home buyers to make their purchases just because of the credit.

The worry now is whether the housing market can sustain itself once June 30th comes and goes. April, May, and June new and existing home sales will undoubtedly be strong but market watchers will be watching closely to see what the numbers look like for July and August – traditionally strong months for home sales to gauge the strength of the broader housing market in the US.

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